Clarion Partners Europe has completed the acquisition of a 41,304 m2 Grade-A logistics property in Venlo, The Netherlands, for €47.4 mln, from Patrizia.
The deal takes Clarion Partners Europe’s total deployment in The Netherlands to €222 mln in 2024, the buyer said in a statement.
The grade-A single tenant property, constructed in 2016, is leased to a subsidiary of 3PL logistics and supply chain management business Arvato Group, with four years remaining. The property has a BREEAM Very Good environmental certification.
Rory Buck, managing director at Clarion Partners Europe, commented: 'The Netherlands logistics market continues to see strong rental growth, underpinned by healthy consumer spending and associated distribution activities. With a limited development pipeline and very low vacancy rates, the Netherlands will remain one of our key investment markets.'
Florina Capraru, director at Clarion Partners Europe, added: 'This was a rare opportunity to acquire a highly reversionary asset, in a hugely undersupplied market, with over 19 million people living within 100km. Venlo is one of Europe’s major pan-European transportation and distribution hubs, and with a vacancy rate close to zero, this investment is an ideal addition to our portfolio.'
Clarion Partners Europe was advised by Loyens & Loef. Patrizia was advised by TLF Real Estate and Loyens & Loef.
